China threatens $60B tariffs on US goods, including medical imaging equipment

In response to the Trump administration recently threatening to increase proposed tariffs on an additional $200 billion worth of Chinese imported goods, China announced on Friday, Aug. 3, its plans to impose $60 billion in new tariffs on more than 5,000 imported U.S. products, including medical imaging equipment such as x-ray tubes, CT and MRI systems and ultrasonic scanning devices.   

The entire list of products was published Aug. 3 on China’s Ministry of Commerce website and accompanied by a statement from the Ministry detailing how China’s imposed tariffs are “rational and restrained” and range in rates from 5 percent to 25 percent.  

“The implementation date of the taxation measures will be subject to the actions of the US, and China reserves the right to continue to introduce other countermeasures,” according to the statement. “China always believes that consultation on the basis of mutual respect, equality and mutual benefit is an effective way to resolve trade differences. Any unilateral threat or blackmail will only lead to intensification of conflicts and damage to the interests of all parties.” 

The trade war between China and the U.S., that has since been escalating since early March, reached new heights in June when President Trump threatened a 10 percent tariff on an additional $200 billion worth of Chinese goods, which is now expected to be raised to 25 percent.